I dont really know what Arrow is playing at,they don't want cash...

I dont really know what Arrow is playing at,

they don't want cash from their stake in PES, if you read all their statements you get the vibe they want a bigger share.

My guess is they are after 50.1%, and probably not much more. They let the independent directors go,

BG has 30%
AOE has 20%
Shell has 10%

40% - up for grabs.
Interesting we havent heard what Shell will do with their stake, i dont see why the have-to/should sell their shares to AOE.

Real question is...

will BG get 50.1% of PES with the $8 offer...

..I dont think they will, so I hold.